MacDonald Mines also withdraws assay results after inconsistencies
The explorer shares a former chief executive with Red Pine
MacDonald Mines Exploration pulled assay results from its Scadding gold project after discovering inconsistencies, becoming the second Canadian gold company to retract its assay results in one month.
Quentin Yarie, who allegedly tampered with results at gold junior Red Pine Exploration, was also chief executive at MacDonald Mines.
Last month, Red Pine had to withdraw assay results after discovering discrepancies. The explorer said the inconsistencies resulted from manipulation by its former chief executive Yarie, who left the company before the fraud discovery on April 19. Red Pine said that Yarie manipulated 532 of over 98,000 drill core assay results since 2014.
Yarie worked at MacDonald Mines until 2022. MacDonald Mines conducted a detailed review of the results and found 82 inconsistencies in assays for 9,100 drill core samples taken at the project. The tampering affected 24 drilling intersections distributed in 18 drill holes and two channel samples.
The Canadian explorer added that the inconsistencies are limited to the Scadding project, which is not one of its flagship projects or primary focus.
MacDonald's share price is down over 40% since the beginning of the year.
Meanwhile, Honey Badger Silver, of which Yarie was chief executive between 2013 and 2020, said that its current portfolio of silver properties was acquired after Yarie's departure and that the former chief executive had no involvement with any properties of its current asset base.
"The company does not rely on any opinion of Mr Yarie respecting its properties and has no reason to do so in the future," it said in a statement.
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